Asked by
Reagan Bahrke
on Oct 27, 2024
Verified
A perfectly competitive firm's short-run supply curve is its _____ cost curve above its intersection with the firm's _____ cost curve.
A) average variable;marginal
B) marginal;average fixed
C) marginal;average total
D) marginal;average variable
Marginal Cost Curve
A graphical representation showing how the cost of producing one additional unit of a good changes as production volume changes.
Short-run Supply
The total quantity of goods or services that producers are willing and able to sell at a given price in a short period.
- Explain the importance of the marginal cost curve being the company's supply curve in the short-run.
Verified Answer
MM
Learning Objectives
- Explain the importance of the marginal cost curve being the company's supply curve in the short-run.
Related questions
In Perfect Competition,the Profit-Maximizing Level of Output Occurs Where The ...
A Perfectly Competitive Firm's Marginal Cost Curve Above the Average ...
For a Perfectly Competitive Firm,the Short-Run Supply Curve Is The ...
A Purely Competitive Firm's Short-Run Supply Curve Is ...
In the Short Run, the Individual Competitive Firm's Supply Curve ...